Adelaide confirmed as most affordable mainland capital city with 33 suburbs showing a median house value under $300,000
The city of Adelaide has confirmed its position as the most affordable mainland capital city in Australia with a median house value of $442,081, according to the latest study of the market by Aussie Home Loans and CoreLogic.
The most affordable entry point to the Adelaide market, based on median house value, is Elizabeth North where the typical house is valued at $176,190. Additionally there are 33 suburbs across the metro area with a median value of less than $300,000.
A further four suburbs have a median house value that is less than $200,000, with the majority located in the city’s north.
Chief Executive Officer of Aussie, Mr James Symond said “For those who are looking for an affordable entry point to the market within 10km of the Adelaide CBD, suburbs within the Charles Sturt and Port Adelaide Enfield council regions provide the most affordable options”.
Pennington, located 9.4km from the Adelaide CBD, showed a median house value of $366,565 with a mean housing loan value of $187,626. On this measure, the value of a house at Pennington roughly equates to the same dollar value as the deposit on a house in city suburbs in some other states, he added.
Research Director of CoreLogic, Mr Tim Lawless said “There are 11 other suburbs with a median house value that is less than $400,000 within 10km of the Adelaide CBD, presenting good value for those who might be looking for more affordable housing options away from the Eastern Seaboard”.
To view the report, please click here.
For further information: Tim Allerton City PR 0412 715 707